August 6th 2024.
During a recent episode of Shannon Sharpe and Chad “OchoCinco” Johnson's Nightcap, there was an interesting revelation about the monetary value of gold medal winners from the United States. It turns out that these athletes take home a grand total of $37,000 for their triumph in their respective sports. But have you ever wondered about the actual worth of that shiny gold medal?
According to Forbes, the current price of gold as of July 24th puts the value of the precious gold medal at approximately $950. This includes the cost of materials used to create the medal. It's worth noting that this is the highest value ever recorded for the top medal, thanks to the soaring prices of gold. In comparison, the gold medal at the 2012 London Olympics was valued at $708.
But here's an interesting fact: despite being labeled as gold, more than 95% of the medal is actually made of silver. If the medal were to be made entirely of gold, its value would skyrocket to an impressive $41,161.50. However, the last time Olympic medals were 100% gold was way back in 1912.
In terms of weight, the gold medal comes in at 529 grams, with 505 grams made of silver and a mere six grams of pure gold plating. The remaining 18 grams are made of iron. In comparison, the silver medal weighs 525 grams, with 507 grams of silver and 18 grams of iron. Its current value is estimated at $486. As for the bronze medal, it weighs 455 grams and is made up of 415.15 grams of copper, 21.85 grams of zinc, and 18 grams of iron. Its value is a modest $13.
But don't be fooled by the term "iron" in the medals. According to the outlet, this iron is actually made from the iron of the iconic Eiffel Tower in Paris, making it a truly unique and special material.
All the medals are of the same size, measuring 85 millimeters across and 9.2 millimeters thick. So, even though the gold medal may be worth more in terms of monetary value, all three medals are equally impressive in size and weight.
In a world where monetary gain often takes center stage, it's refreshing to see that these Olympic medals hold so much value, not just in terms of money, but also in terms of the hard work and dedication that went into earning them. These medals are a symbol of achievement and perseverance, and that's something that goes beyond any monetary value.
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